U.S. crude oil set to rocket when the market opens. This is following U.S. and Israeli strikes on Iran.
Barclays said Brent could move towards $100 per barrel as trading begins, although this is a pretty vague statement. Any upwards movement is technically “moving towards” $100. More conservative estimates suggest an initial move of around $3 to $10.
U.S. crude closed Friday at $67.02 per barrel, and Brent futures closed at $73.2.
The worst-case scenario is an attack by Iran on US-ally Saudi Arabia and their oil infrastructure
There is also a potential off-ramp though. President Donald Trump said on Sunday that Iran wants to talk and that he has agreed to do so.
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